Covidien completes separation of pharmaceuticals business including its API business

1:12 AM MDT | July 2, 2013 | Deepti Ramesh

Healthcare products company Covidien (Dublin) says it has completed the previously announced separation of its pharmaceuticals business, which is now held by Mallinckrodt (Dublin), a new independent company. Covidien announced in December 2011 that it planned to spin-off the pharmaceuticals business, and the spin off includes the company’s active pharmaceutical ingredients (API) business. In the fiscal year ended 28 September 2012, the pharmaceuticals business of Covidien recorded sales of $2 billion, and the API business within that recorded sales of $433...